CCI approves ONGC-NTPC’s Ayana acquisition and Greenko stake deal

The Competition Commission of India (CCI) has approved two major transactions in the renewable energy sector. ONGC NTPC Green Private Limited has received clearance to acquire a 100 per cent stake in Ayana Renewable Power Private Limited. Meanwhile, AMG Green Power B.V. has been approved to acquire a stake in Greenko Energy Holdings, and ORIX Corporation will subscribe to certain convertible notes of AM Green (Luxembourg) S.À.R.L.

ONGC NTPC Green is a joint venture between ONGC Green Limited and NTPC Green Energy Limited, subsidiaries of Oil and Natural Gas Corporation Limited (ONGC) and NTPC Limited, respectively. The entity currently has no business operations.

AMG Green Power B.V. is a newly incorporated firm without active business activities, while AM Green (Luxembourg) S.À.R.L functions as a holding company. ORIX Corporation, the parent company of the ORIX Group, has interests in financial services, leasing, real estate, private equity, asset management, and energy services, including power generation.